Market Size of south america confectionery Industry
| Icons | Lable | Value |
|---|---|---|
|
Study Period | 2018 - 2030 |
|
Market Size (2024) | USD 12.72 Billion |
|
|
Market Size (2030) | USD 18.00 Billion |
|
Largest Share by Distribution Channel | Supermarket/Hypermarket |
|
|
CAGR (2024 - 2030) | 5.95 % |
|
Largest Share by Country | Brazil |
|
|
Market Concentration | Medium |
Major Players |
||
|
||
|
*Disclaimer: Major Players sorted in no particular order |
South America Confectionery Market Analysis
The South America Confectionery Market size is estimated at 12.72 billion USD in 2024, and is expected to reach 18.00 billion USD by 2030, growing at a CAGR of 5.95% during the forecast period (2024-2030).
12.72 Billion
Market Size in 2024 (USD)
18.00 Billion
Market Size in 2030 (USD)
2.18 %
CAGR (2018-2023)
5.95 %
CAGR (2024-2030)
Largest Segment by Confections
47.48 %
value share, Chocolate, 2023
Chocolate consumption in the region is supported by high demand for innovative flavors, purchasing power, and consumption patterns of the consumers during the study period.
Largest Segment by Distribution Channel
39.29 %
value share, Supermarket/Hypermarket, 2023
The product assortment and shelf space in supermarkets allow consumers to compare the products, which has emerged as one of the major factors driving segmental growth.
Fastest-growing Segment by Confections
11.48 %
Projected CAGR, Snack Bar, 2024-2030
The innovative packaging concepts, with an increasing need for on-the-go snack options led by children and the young population in South America, led to segment's growth.
Fastest-growing Segment by Distribution Channel
7.46 %
Projected CAGR, Online Retail Store, 2024-2030
With the huge intensity of internet penetration, consumers are purchasing confectionery products through online stores, anticipating it to be the fastest-growing segment.
Leading Market Player
27.77 %
market share, Mondelēz International Inc., 2022
The active market activities, like product innovations and strategic moves by Mondelēz, along with the unique portfolio, are enabling the company to grow ales in the market.
The presence of popular convenience stores like Jumbo, Metro, Carrefour, and Makro, along with the development of modern retail channels, promotes confectionery sales through convenience stores and supermarkets
- In South America, the distribution channel segment maintained a growth rate of 5.28% by value in 2023 compared to 2022. The projected expansion is driven by consumers' increasing preference for convenient shopping facilities within the market. The convenience store segment was the largest retail unit in terms of volume in 2023. Some of the popular convenience stores in the region are Jumbo, Metro, Carrefour, Makro, D1, and Super Inter. By 2028, the convenience store segment in the region is estimated to register a growth of 6.37% by volume.
- Supermarkets and hypermarkets are the second-largest channels in the confectionery market. The channel grew by 4.77% by value in 2023 compared to 2022 in terms of sales. The development of modern retail channels such as supermarkets and hypermarkets has made it feasible for consumers to purchase high-quality chocolate products. The proximity factor of these channels in the South American countries provides them with an added advantage of influencing the consumer’s decision to purchase among the large variety of products available in the market.
- Online channels are the fastest-growing distribution channel for the consumption of confectionery products in South America, registering an anticipated CAGR of 6.32% during the forecast period. Consumers prefer online channels as they provide quick, convenient delivery options. The high internet penetration in the region also drives the demand for online channels. Among all the countries in the region, Argentina and Brazil had the highest internet penetration, at 99%, as of July 2023.
Understand The Key Trends Shaping This Market
The inclination toward personalized snacking and rising preference for guilt-free indulgence are key market drivers in the region, with Brazil accounting for more than 60% of the market share
- Brazil is identified as the major market in the region, followed by Argentina. The rise in consumer preference for convenient indulgent snacking is identified as the key market driver in the region. As of 2023, 39% of Brazilian consumers aged 16-34 snacked to relax/de-stress. Also, 32% of consumers aged 35+ believed that eating snacks helped them deal with anxiety.
- In Brazil, chocolate was the most consumed confection, with an 81.72% share of the overall confectionery market in 2023 in terms of volume. Brazilians perceive chocolate as a unique and essential indulgent snack due to its flavor. In 2022, 67% of consumers consumed chocolate at least once a week. Snack bar is the fastest growing segment in the country, with an anticipated CAGR of 7% during 2023-2030 in terms of value. The market growth is attributed to the consumer shift toward guilt-free indulgence. In 2022, 81% of consumers preferred personalized snacks as per their health needs.
- Argentina is identified as the fastest-growing confectionery market in the region. The Argentine market is anticipated to expand at a CAGR of 11.38% in terms of value during the forecast period. Argentina is one of the powerhouse snackers globally, where snacking occurs at multiple points during the day alongside regular mealtimes. This, in turn, contributes to the growth of the confectionery market, wherein sugar confectionery is largely consumed, with a share of 73.78% in 2023 in terms of volume. Pastilles, gummies, jellies, and toffees are widely consumed sugar confectionery variants in the country, collectively accounting for 68.16% of the volume share in 2023.
- In the Rest of South America, Chile and Peru are major countries driving the market growth, collectively covering more than 60% of the sales, in terms of volume, in 2022.
South America Confectionery Industry Segmentation
Chocolate, Gums, Snack Bar, Sugar Confectionery are covered as segments by Confections. Convenience Store, Online Retail Store, Supermarket/Hypermarket, Others are covered as segments by Distribution Channel. Argentina, Brazil are covered as segments by Country.
- In South America, the distribution channel segment maintained a growth rate of 5.28% by value in 2023 compared to 2022. The projected expansion is driven by consumers' increasing preference for convenient shopping facilities within the market. The convenience store segment was the largest retail unit in terms of volume in 2023. Some of the popular convenience stores in the region are Jumbo, Metro, Carrefour, Makro, D1, and Super Inter. By 2028, the convenience store segment in the region is estimated to register a growth of 6.37% by volume.
- Supermarkets and hypermarkets are the second-largest channels in the confectionery market. The channel grew by 4.77% by value in 2023 compared to 2022 in terms of sales. The development of modern retail channels such as supermarkets and hypermarkets has made it feasible for consumers to purchase high-quality chocolate products. The proximity factor of these channels in the South American countries provides them with an added advantage of influencing the consumer’s decision to purchase among the large variety of products available in the market.
- Online channels are the fastest-growing distribution channel for the consumption of confectionery products in South America, registering an anticipated CAGR of 6.32% during the forecast period. Consumers prefer online channels as they provide quick, convenient delivery options. The high internet penetration in the region also drives the demand for online channels. Among all the countries in the region, Argentina and Brazil had the highest internet penetration, at 99%, as of July 2023.
| Confections | |||||||||||
| |||||||||||
| |||||||||||
| |||||||||||
|
| Distribution Channel | |
| Convenience Store | |
| Online Retail Store | |
| Supermarket/Hypermarket | |
| Others |
| Country | |
| Argentina | |
| Brazil | |
| Rest of South America |
Need A Different Region Or Segment?
South America Confectionery Market Size Summary
The South America confectionery market is experiencing a robust expansion, driven by evolving consumer preferences and the development of modern retail channels. The market is characterized by a significant shift towards convenience, with convenience stores emerging as the largest retail units in terms of volume. This trend is supported by the growing consumer inclination towards easy and quick shopping experiences. Supermarkets and hypermarkets also play a crucial role, offering consumers access to high-quality chocolate products. Online channels are rapidly gaining traction, fueled by high internet penetration in countries like Argentina and Brazil, providing consumers with convenient delivery options. Brazil stands out as the major market, with chocolate being the most consumed confectionery, while Argentina is noted for its fast-growing market, driven by a culture of frequent snacking.
The market landscape is moderately consolidated, with major players like Arcor S.A.I.C, Cacau Show, Ferrero International SA, Mondelēz International Inc., and Nestlé SA dominating the scene. The rising interest in premium and healthier confectionery options is shaping consumer buying behaviors, with a notable shift towards low-sugar and organic products. Creative advertising and sustainable packaging are influencing impulse buying, while economic factors play a significant role in consumer choices, particularly in Brazil. The market's growth is further supported by strategic acquisitions and product innovations, such as the introduction of protein bars by The Hershey Company, catering to the demand for healthier snack alternatives.
South America Confectionery Market Size - Table of Contents
-
1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
-
1.1 Confections
-
1.1.1 Chocolate
-
1.1.1.1 By Confectionery Variant
-
1.1.1.1.1 Dark Chocolate
-
1.1.1.1.2 Milk and White Chocolate
-
-
-
1.1.2 Gums
-
1.1.2.1 By Confectionery Variant
-
1.1.2.1.1 Bubble Gum
-
1.1.2.1.2 Chewing Gum
-
1.1.2.1.2.1 By Sugar Content
-
1.1.2.1.2.1.1 Sugar Chewing Gum
-
1.1.2.1.2.1.2 Sugar-free Chewing Gum
-
-
-
-
-
1.1.3 Snack Bar
-
1.1.3.1 By Confectionery Variant
-
1.1.3.1.1 Cereal Bar
-
1.1.3.1.2 Fruit & Nut Bar
-
1.1.3.1.3 Protein Bar
-
-
-
1.1.4 Sugar Confectionery
-
1.1.4.1 By Confectionery Variant
-
1.1.4.1.1 Hard Candy
-
1.1.4.1.2 Lollipops
-
1.1.4.1.3 Mints
-
1.1.4.1.4 Pastilles, Gummies, and Jellies
-
1.1.4.1.5 Toffees and Nougats
-
1.1.4.1.6 Others
-
-
-
-
1.2 Distribution Channel
-
1.2.1 Convenience Store
-
1.2.2 Online Retail Store
-
1.2.3 Supermarket/Hypermarket
-
1.2.4 Others
-
-
1.3 Country
-
1.3.1 Argentina
-
1.3.2 Brazil
-
1.3.3 Rest of South America
-
-
South America Confectionery Market Size FAQs
How big is the South America Confectionery Market?
The South America Confectionery Market size is expected to reach USD 12.72 billion in 2024 and grow at a CAGR of 5.95% to reach USD 18.00 billion by 2030.
What is the current South America Confectionery Market size?
In 2024, the South America Confectionery Market size is expected to reach USD 12.72 billion.
